GOP: No Compromise on Tax Cut for Wealthiest Taxpayers
Sunday 07 November 2010
by: Renee Schoof | McClatchy Newspapers | Report
Republican leaders in both the House and the Senate said Sunday there would be no compromise with Democrats on whether to extend Bush-era tax cuts for the nation's wealthiest taxpayers.
President Barack Obama has said he wants to extend the tax cuts for taxpayers with a combined annual income of less than $250,000, but that the cuts shouldbe eliminated for people making more than that. He's suggested there might be room for compromise in discussions with Republicans on other tax issues.
But both Rep. Eric Cantor, R-Va., who's expected to become the majority leader in the House when the new Congress is sworn in next year, and Senate Minority Leader Mitch McConnell said on Sunday news programs that they'd insist on an extension of the tax cuts for wealthy.
McConnell said that higher taxes on upper income earners would harm small businesses. “We can’t negotiate it this morning but our view is don’t raise taxes on small business,” McConnell said on CBS "Face the Nation."
Cantor said Republicans plan to make spending cuts a priority when they take control of the House in January. “We’re going to embark on a regular diet of spending cut bills being brought to the floor weekly,” he said.
Cantor said Republicans could achieve their goal of 22 percent spending cuts and rejected Democrats objections that spending that deep would cut such things as preschool education for poor children, research at the National Institutes for Health and a dismissal of 2,700 FBI agents.
“We’re going to have to make some tough decisions,” he said, dismissing the Democrats’ list of possible cuts as a “tactic.” Both leaders said they expected to be able to work well with new members of Congress who were elected with tea party support. Many analysts believe the tea party followers will clash with establishment GOP leaders.
McConnell, however, said that although he didn't support Rand Paul in the Republican primary in Kentucky, he expected to work with him and that Paul would have an opportunity to offer his ideas.
“I think he’s an exciting new member,” McConnell said.
Cantor said that the tea party movement helped Republicans pick up about 60 seats in the House. About one-third of all House Republicans will be tea party supporters.
But Cantor said he would not support tea party favorite Michelle Bachman, R-Minn., for the party's No. 4 leadership position. Instead, he said he would back Jeb Heanserling, R-Texas. While he described both as conservatives, he said he supported Henserling because he had a history of working closely with him.
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Comments
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What small business owner
Mon, 11/08/2010 - 12:28 — tyler_durden (not verified)What small business owner makes over 250 grand a year? None of them. How can that be said? If the owner of a business is pulling down a quarter mil a year that means it's 250,000 dollars the business didn't need to stay alive, and not one small business can say that especially right now.
The fact so many people seem to believe these undeniable bold faced lies makes me more ashamed to be an american than ever.
And as usual the spineless democrats sit on their asses, say nothing, do nothing, just itching for january when they can say "hey we can't do anything"
So, that how the republicans
Mon, 11/08/2010 - 13:07 — GT66 (not verified)So, that how the republicans are gonna play it. They will encourage the billionaires to hide behind the skirts of small business owners. Nice. I suppose they've changed their belief from "trickle down" to trickle on. The republicans have almost finished nailing the coffin lid shut for the middle class. They must be giddy at the prospect of finishing the job in the new term.
Fuck the GOP, any Dim that
Mon, 11/08/2010 - 13:42 — Millionaire Stooges (not verified)Fuck the GOP, any Dim that suggests we should keep the Butch tax cuts should be punished. Unfortunately, the only way to do that is next election.
The biggest spending is
Mon, 11/08/2010 - 17:29 — An (not verified)The biggest spending is being done in Afghanistan. Get out of Afghanistan and we will save billions. We are accomplishing nothing there except killing and maiming our young people. there never was a reason to go in there in the first place, and no reason to stay there now, except to supply employment to our troops. Let's use them to rebuild roads instead (like the WPA during the early 30's), construction instead of destruction will cost less in the end.
Lets have figures from
Mon, 11/08/2010 - 17:39 — Ben Kerkvliet (not verified)Lets have figures from credible sources as to what proportion of small business owners would be affected were taxes to return to pre 2001 levels for people earning over $250 million/yr. And lets have figures from credible sources as to what people earning over $250million/yr. do with additional discretionary money - do they hire more workers, invest in new or expanded business, or put it into bank accounts, buy stocks, buy jewelry, and other much less productive places?
The government isn't a
Mon, 11/08/2010 - 17:57 — Bearzerker (not verified)The government isn't a profit making mechanism/company...taxes are a redistribution of wealth. Governments are strictly non-profit and are there to ensure their is enough local capital circulating to ensure business have the customers to survive even in hard times like now.
no taxation without representation was the battle cry, it was never about no taxation period. The current mess is about how taxes are best used, collected and who is paying and who can afford to pay and why
Just ask yourself, what is fair about the current tax policies and you will realize that the largest percentage of taxes are collected through the middle class... whats so fair about that?... and how does burdening the middle class even more now help recirculate cash to keep the wheels of progress going?
Doesn't Obama ever see what
Mon, 11/08/2010 - 18:50 — fred fep (not verified)Doesn't Obama ever see what is going down? How can he be so lame-brained. Even if he became Capitalist #1 they'd call him socialist. They don't want to compromise. HE wins over no one with this nonsense. Will he ever stop being the fool?
WHY in GOD'S name would
Mon, 11/08/2010 - 18:53 — billnbillieskid (not verified)WHY in GOD'S name would ANYONE, Republican or Democrat WANT to extend tax relief to those who DON'T need it? The wealthy always get the free ride while John Q. Public pays and pays and pays? Aside from the fact that it will do NOTHING but ADD to our already burgeoning deficit, WHAT is it's purpose? What kind of Patriots ARE these who would continue to strangle the lower and middle class American for the easement of the RICH? Their priorities are insane. They should get busy putting people back to WORK rebuilding our Country and making us independent from China and the rest of the Globe that we're currently indebted to. Is anybody listening?
Just a reminder: Lincoln
Mon, 11/08/2010 - 19:17 — brother_unknown (not verified)Just a reminder: Lincoln introduced the progressive income tax to pay for a war he did not want, reasoning " that those who gain the most from this country, should pay the most for its support."
Gotta hand it to the
Mon, 11/08/2010 - 21:04 — Rick Levy (not verified)Gotta hand it to the Rethuglicans when they say "no compromise. If Obama had taken the same approach for his stated goals when he became president, the country would be on the road to recovery. I imagine that the the White House chef knows how to prepare Meow Mix for him.
"Doesn't Obama ever see what
Mon, 11/08/2010 - 22:07 — Georgi Malenkov (not verified)"Doesn't Obama ever see what is going down?"
I swear, Obama thinks he's still running the Harvard Law Review, fred. The man is simply so far over his head in this job that there are few that aren't now aware of it. Obama is the quintessential product of the elitist educational system that processed him. His moral instincts show all of the development one might expect of a practicing psychologist yet he is the most powerful person in the world. At one point or other, I suppose, Obama properly will be held up as an object of pity. I mean would you entertain contempt for someone with Alzheimer's?
I gotta pile on here, if
Mon, 11/08/2010 - 23:15 — Ken Hall (not verified)I gotta pile on here, if only to add that TPers are going to feel as much sting as the rest of us. That's right, odds are short they're going to be betrayed by the system and, more to the point, the billionaire-supported system they invested their time/money/votes to elect. How many of you TPers are making more than 250K? The billionaires are the ones who've got your money, who ripped off your family-supporting jobs. It ain't the immigrants, it ain't the civil pensioners, it ain't the welfare folks, it ain't the so-called liberal entitlements. That's all smokescreen and misdirection! Follow the money, it's all gone upstairs. You are destitute because the rich are much richer, much, much, richer, and they've become much richer by taking the money from YOU! And they did it through "smaller gov't", a gov't too small to stand up to the greedy demands of large corporations and the rich folks who can buy elections. Hell, they own the election machines! The one consolation is that the TPers and the willfully ignorant are going to suffer along with the rest of the non-elites. Small compensation...
Fine. Just let the tax cuts
Tue, 11/09/2010 - 14:49 — realitycheck (not verified)Fine. Just let the tax cuts expire.
Then the Congress can argue about new cuts to the non-rich when the new folks take their seats in January.
Right now, the Democrats have the majority and Obama can veto whatever he does not like..
I can't even believe that this is even a credible threat!
Elections are two years away--and trust me, there will be new issues that will be on the the agenda to get angry about.